First time buyer

kelsey-rose-1991

Hi,

Me and my boyfiend have been saving for a few years and finally have saved enough for a deposit.

We have seen a lovely two bed maisionette with a garden that we want to go view.

So i have called the estate agent asked a few questions and found out service charge is £50pm which seems reasonable and the lease has 110 years left (firstly what does this mean ?)

As i have never lived on my own before i dont know how much things are for example:
Gas
Electricity
Water
Home insurance

I would be very grateful if you could help with some of these queries.

Thank you

Dan-Dan

Gas - £60 upwards
Electric (dependant obviously on heating system as is the gas amount ) - £50
Water - £35
Home Insurance (inc contents) £15/25 ish

As for the lease , thats not long enough for my liking , would be looking for that to be extended prior to purchase

Lokolo

Dan-Dan wrote: »

Gas - £60 upwards
Electric (dependant obviously on heating system as is the gas amount ) - £50
Water - £35
Home Insurance (inc contents) £15/25 ish

As for the lease , thats not long enough for my liking , would be looking for that to be extended prior to purchase

Agree with the above apart from the lease. It has plenty on it, no need to be extended. When it gets to 85-90 years is when you want to ideally extend it.

Buildings insurance for me was £105 this year, this was for a block of flats.

Dan-Dan

Happy to bow to that lokolo :beer:

Dan-Dan

Dont forget on top of your deposit you will need (possibly) stamp duty costs , buying fees , possible moving costs , mortgage product costs , tho this can usually be added on to the mortage amount (subject to the interest tho!) and a fund of approx 3 months mortagage payments in the bank!